- Do you find more and more of your time is taken up with bookkeeping and compliance, like filing annual tax returns, payroll and VAT returns?
- Do you struggle to stay up-to-date with constantly changing rules?
- Do you worry about penalties for late returns or non-compliance?
To make more time for running your business and improving profitability, maximising the efficiency of your bookkeeping and record-keeping systems is crucial.
If you are using a manual or spreadsheet-based system, or not fully using or having difficulties with your current accounting software, a cloud accounting system like Xero is a low-cost, flexible and easy to use alternative.The advantages of cloud accounting
- There’s no software to download. You can log onto your records from anywhere with internet access.
- There’s no up-front software cost – you pay a low, monthly subscription.
- Software updates are taken care of “in the cloud” for you.
- The structure of the records is highly flexible, enabling you to extract the most useful management information on a real time basis.
- Bespoke desktop reports tell you exactly where you are at any point in time.
- Your accountant or bookkeeper can have ”back room” access so that they keep an eye on what you are doing.
- Outsourcing is easy. Because you and your accountant or bookkeeper have direct access to your data – or as much of it as you wish to share – you can do the work you want to yourself and outsource other elements, e.g. your payroll, sales ledger maintenance, purchase ledger maintenance. You could even use different providers for different tasks.
- Much of your compliance work is completed on a “press button” basis, such as your quarterly VAT return and its online submission and payroll compliance.
- The work required at year end to prepare annual tax accounts is reduced. In fact, most of the work can be done within your accounting system and exported direct to the reporting programme.
The advantages of Xero
At Milsted Langdon, we thoroughly research accounting software before we recommend it, so we can be certain it is right for you. That is why we are happy to recommend Xero.
- It’s simple, straightforward and secure to use.
- It directly imports information from bank transactions, reducing the amount of time you spend on data entry and reconciliations.
- There are versions and levels of software suitable for most businesses, with add on modules for more advanced requirements. You pay only for what you need and use.
- When you know how you are performing financially, you can use that information to make the decisions that will help your business to develop and grow.
With Xero cloud accounting and Milsted Langdon’s “back room” support, you can be sure you will have the most up-to-date and reliable information possible.